Air Products & Chemicals, Inc. (APD) is Luminus Management LLC’s 3rd Largest Position

Luminus Management LLC lifted its stake in Air Products & Chemicals, Inc. (NYSE:APD) by 67.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,077,723 shares of the basic materials company’s stock after purchasing an additional 433,873 shares during the quarter. Air Products & Chemicals comprises about 3.8% of Luminus Management LLC’s portfolio, making the stock its 3rd largest holding. Luminus Management LLC owned about 0.49% of Air Products & Chemicals worth $176,832,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its position in Air Products & Chemicals by 2.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 716,174 shares of the basic materials company’s stock worth $108,300,000 after buying an additional 19,863 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in Air Products & Chemicals during the 3rd quarter worth approximately $12,258,000. Prudential Financial Inc. raised its position in Air Products & Chemicals by 239.8% during the 3rd quarter. Prudential Financial Inc. now owns 1,071,131 shares of the basic materials company’s stock worth $161,977,000 after buying an additional 755,930 shares during the last quarter. Fayez Sarofim & Co. raised its position in Air Products & Chemicals by 0.7% during the 3rd quarter. Fayez Sarofim & Co. now owns 540,693 shares of the basic materials company’s stock worth $81,762,000 after buying an additional 3,975 shares during the last quarter. Finally, Ffcm LLC raised its position in Air Products & Chemicals by 21.4% during the 3rd quarter. Ffcm LLC now owns 9,622 shares of the basic materials company’s stock worth $1,455,000 after buying an additional 1,698 shares during the last quarter. 87.80% of the stock is owned by hedge funds and other institutional investors.

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APD has been the subject of a number of recent research reports. raised shares of Air Products & Chemicals from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Monday, November 13th. SunTrust Banks raised their price target on shares of Air Products & Chemicals to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 13th. They noted that the move was a valuation call. raised shares of Air Products & Chemicals from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. HSBC raised shares of Air Products & Chemicals from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, Jefferies Group raised shares of Air Products & Chemicals from a “hold” rating to a “buy” rating and raised their price target for the stock from $166.00 to $185.00 in a research report on Monday, December 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $178.33.

Shares of Air Products & Chemicals, Inc. (NYSE APD) opened at $171.10 on Monday. The company has a market cap of $37,460.52, a P/E ratio of 25.81, a PEG ratio of 1.43 and a beta of 1.22. Air Products & Chemicals, Inc. has a one year low of $133.63 and a one year high of $175.17. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.73 and a current ratio of 2.92.

Air Products & Chemicals (NYSE:APD) last issued its quarterly earnings data on Friday, January 26th. The basic materials company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.13. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Air Products & Chemicals had a net margin of 33.51% and a return on equity of 14.80%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the company earned $1.47 EPS. research analysts forecast that Air Products & Chemicals, Inc. will post 7.32 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 14th. Investors of record on Monday, April 2nd will be paid a $1.10 dividend. The ex-dividend date is Thursday, March 29th. This represents a $4.40 dividend on an annualized basis and a yield of 2.57%. This is a boost from Air Products & Chemicals’s previous quarterly dividend of $0.95. Air Products & Chemicals’s dividend payout ratio (DPR) is currently 29.25%.

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About Air Products & Chemicals

Air Products and Chemicals, Inc, is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company is also a supplier of liquefied natural gas process technology and equipment.